X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
ENGINEERS INDIA 2017-18 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

ENGINEERS INDIA 2017-18 Annual Report Analysis
Thu, 20 Dec

ENGINEERS INDIA has announced its results for the year ended March 2018. Let us have a look at the detailed performance review of the company during FY17-18.

ENGINEERS INDIA Income Statement Analysis

  • Operating income during the year rose 23.3% on a year-on-year (YoY) basis.
  • The company's operating profit increased by 36.0% YoY during the fiscal. Operating profit margins witnessed a fall and down at 23.4% in FY18 as against 21.2% in FY17.
  • Depreciation charges increased by 5.7% and finance costs decreased by 81.8% YoY, respectively.
  • Other income declined by 20.8% YoY.
  • Net profit for the year grew by 16.2% YoY.
  • Net profit margins during the year declined from 19.4% in FY17 to 19.2% in FY18.

ENGINEERS INDIA Income Statement 2017-18

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Net Sales Rs m 14,797 18,243 23.3%
Other income Rs m 2,224 1,762 -20.8%
Total Revenues Rs m 17,022 20,005 17.5%
Gross profit Rs m 3,143 4,275 36.0%
Depreciation Rs m 227 240 5.7%
Interest Rs m 32 6 -81.8%
Profit before tax Rs m 5,108 5,791 13.4%
Tax Rs m 1,806 1,957 8.4%
Profit after tax Rs m 3,300 3,833 16.2%
Gross profit margin % 21.2 23.4
Effective tax rate % 35.4 33.8
Net profit margin % 19.4 19.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ENGINEERS INDIA Balance Sheet Analysis

  • The company's current liabilities during FY18 stood at Rs 21 billion as compared to Rs 15 billion in FY17, thereby witnessing an increase of 40.6%.
  • Current assets rose 1% and stood at Rs 36 billion, while fixed assets fell 3% and stood at Rs 3 billion in FY18.
  • Overall, the total assets and liabilities for FY18 stood at Rs 45 billion as against Rs 44 billion during FY17, thereby witnessing a growth of 3%.

ENGINEERS INDIA Balance Sheet as on March 2018

No. of Mths Year Ending 12 Mar-17* 12 Mar-18* % Change
Networth Rs m 28,449 23,412 -17.7
 
Current Liabilities Rs m 15,258 21,454 40.6
Long-term Debt Rs m 0 0 0.0
Total Liabilities Rs m 43,959 45,139 2.7
 
Current assets Rs m 36,014 36,344 0.9
Fixed Assets Rs m 2,828 2,748 -2.8
Total Assets Rs m 43,959 45,139 2.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



ENGINEERS INDIA Cash Flow Statement Analysis

  • ENGINEERS INDIA's cash flow from operating activities (CFO) during FY18 stood at Rs 6 billion, an improvement of 153.3% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY18 stood at Rs 2 billion on a YoY basis.
  • Cash flow from financial activities (CFF) during FY18 stood at Rs -9 billion on a YoY basis.
  • Overall, net cash flows for the company during FY18 stood at Rs -1 billion from the Rs 1 billion net cash flows seen during FY17.

ENGINEERS INDIA Cash Flow Statement 2017-18

Particulars No. of months 12 12 % Change
Year Ending Mar-17 Mar-18
Cash Flow from Operating Activities Rs m 2,364 5,988 153.3%
Cash Flow from Investing Activities Rs m 1,971 1,647 -16.4%
Cash Flow from Financing Activities Rs m -2,839 -8,920 -
Net Cash Flow Rs m 1,496 -1,285 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for ENGINEERS INDIA

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.1, an improvement from the EPS of Rs 4.9 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 123.9, stands at 23.1 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.7 times, while the price to sales ratio stands at 6.0 times.
  • The company's price to cash flow (P/CF) ratio stood at 20.5 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Sales per share (Unadj.) Rs 22.0 28.9
TTM Earnings per share Rs 4.9 6.1
Diluted earnings per share Rs 4.9 5.7
Price to Cash Flow x 23.7 20.5
TTM P/E ratio x 23.1 23.1
Price / Book Value ratio x 5.7 4.7
Market Cap Rs m 83,492 83,499
Dividends per share (Unadj.) Rs 3.0 4.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for ENGINEERS INDIA

  • Solvency Ratios
  • Current Ratio: The company's current ratio improved and stood at 1.7x during FY18, from 2.4x during FY17. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 999.4x during FY18, from 161.6x during FY17. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company improved and stood at 16.4% during FY18, from 11.6% during FY18. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company improved and stood at 24.8% during FY18, from 18.1% during FY17. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company improved and stood at 8.5% during FY18, from 7.6% during FY17. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-17* 12 Mar-18*
Current ratio x 2.4 1.7
Debtors’ Days Days 98 112
Interest coverage x 161.6 999.4
Debt to equity ratio x 0.0 0.0
Return on assets % 7.6 8.5
Return on equity % 11.6 16.4
Return on capital employed % 18.1 24.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how ENGINEERS INDIA has performed over the last 5 years, please visit here.

ENGINEERS INDIA Share Price Performance

Over the last one year, ENGINEERS INDIA share price has moved up from Rs 191.4 to Rs 123.9, registering a loss of Rs 67.5 or around 35.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,751.6 (down 0.3%). Over the last one year it has moved up from 18,684.3 to 18,751.6, a gain of 67 points (up 0.4%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

(To know more, check out historical annual results for ENGINEERS INDIA and quarterly results for ENGINEERS INDIA)

Equitymaster requests your view! Post a comment on "ENGINEERS INDIA 2017-18 Annual Report Analysis". Click here!

  

Related Views on News

GRAPHITE INDIA Surges by 5%; BSE CAPITAL GOODS Index Up 2.1% (Market Updates)

May 20, 2019 | Updated on May 20, 2019

GRAPHITE INDIA share price has surged by 5% and its current market price is Rs 342. The BSE CAPITAL GOODS is up by 2.1%. The top gainers in the BSE CAPITAL GOODS Index are GRAPHITE INDIA (up 5.2%) and BEML LTD. (up 7.6%). The top losers are SIEMENS (down 0.3%) and THERMAX (down 0.7%).

ENGINEERS INDIA Announces Quarterly Results (3QFY19); Net Profit Down 16.3% (Quarterly Result Update)

Feb 12, 2019 | Updated on Feb 12, 2019

For the quarter ended December 2018, ENGINEERS INDIA has posted a net profit of Rs 908 m (down 16.3% YoY). Sales on the other hand came in at Rs 6 bn (up 21.9% YoY). Read on for a complete analysis of ENGINEERS INDIA's quarterly results.

ENGINEERS INDIA Announces Quarterly Results (2QFY19); Net Profit Down 18.0% (Quarterly Result Update)

Nov 14, 2018 | Updated on Nov 14, 2018

For the quarter ended September 2018, ENGINEERS INDIA has posted a net profit of Rs 978 m (down 18.0% YoY). Sales on the other hand came in at Rs 7 bn (up 58.8% YoY). Read on for a complete analysis of ENGINEERS INDIA's quarterly results.

Garden Reach Shipbuilders and Engineers Ltd: Is This PSU Shipbuilder Worth Betting On? (IPO)

Sep 24, 2018

Should you apply for the IPO of Garden Reach Shipbuilders and Engineers Ltd?

H.G Infra Engineering Ltd. (IPO)

Feb 24, 2018

Should you subscribe to the IPO of H.G Infra Engineering Ltd.?

More Views on News

Most Popular

These Dividend Stocks Could Boost Your Returns Better Than You Can Imagine(Profit Hunter)

May 7, 2019

The art of dividend investing is a lot more than investing in companies with high dividend payouts or stocks with high dividend yields...

3 Indian Stocks Replicating Amazon's Successful Strategy(The 5 Minute Wrapup)

May 10, 2019

The one critical element that has made Amazon a force to reckon with...

My Top 7 Stocks to Profit from Sensex 100,000(The 5 Minute Wrapup)

May 16, 2019

Tanushree Banerjee explains everything you need to know about the Rebirth of India and Sensex 100,000.

A Simple Checklist for Picking Great Dividend Stocks(Profit Hunter)

May 9, 2019

A filtered, neat list of high-dividend stocks with all this dirty work already done for you.

A 10-Bagger in Just 6 Years! The Rebirth of India Will Create More Big Winners Like This(The 5 Minute Wrapup)

May 7, 2019

How a niche tech startup battled all odds to eventually become a 10 bagger.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

TRACK ENGINEERS INDIA

  • Track your investment in ENGINEERS INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON ENGINEERS INDIA

ENGINEERS INDIA - ANANT RAJ LTD. COMPARISON

COMPARE ENGINEERS INDIA WITH

MARKET STATS